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Strategies & Market Trends : Tech Stock Options
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To: FD JR. who wrote (34335)1/28/1998 11:53:00 AM
From: Kevin  Read Replies (2) of 58727
 
>>>What are your reads on INTC latest rally. My charts showed resisitance at 81.75. <<<

Hi FD. I have resistance in the same area...81.60
The latest rally has been impressive. Blocks have been buying back in and we're close to testing the 200 DMA.

My techicals are indicating that it is getting overbought though...it's run too far too fast. IF INTC tests the 200 DMA and fails on a closing basis, I may consider shorting calls. Just have to watch and wait.

See ya!
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